/raid1/www/Hosts/bankrupt/TCREUR

/raid1/www/Hosts/bankrupt/TCREUR_Public/041027.mbx T R O U B L E D C O M P A N Y R E P O R T E R E U R O P E Wednesday, October 27, 2004, Vol. 5, No. 213 Headlines F R A N C E PERRIER: CGT Union Wants Registered Designation of Origin TEREOS SA: Ratings Withdrawn After Debt Repayments VIVENDI UNIVERSAL: Senior Unsecured Debt Rating Upgraded to Baa3 G E R M A N Y ABC DRUCKEREI: Publishing Firm Falls into Bankruptcy AMBULANTER PFLEGEDIENST: Under Bankruptcy Administration BACKERGENOSSENSCHAFT SEELOW: Insolvency Administrator Named B MOTE: Sets Creditors' Meeting Last Week of November ELM DRUCKERZEUGNISSE: Court to Verify Claims November FLASCHNEREI FUCHS: Sets Deadline for Filing of Claims HANNELORE SCHUMACHER: Cologne Court Appoints Administrator KARSTADTQUELLE AG: Turnover at Mail-order Unit Down METALLWERK WERDAU: Court to Examine Late Claims November NCB INFORMATIONSTECHNIK: To Hold Creditors' Meeting December NIEDERRHEINISCHE BEWACHUNGS: Under Bankruptcy Administration PARK HOTEL: Creditors Have Until November to File Claims PH. H. BAUGESELLSCHAFT: Creditors' Meeting Set November SCHAFER METALLBAU: Creditors Have Until this Week to File Claims SCHILDWACHTER GBR: Creditors to Meet Next Month SMB FENSTER: Administrator Takes over Operations WUESTENROT BANK: 'C' Individual Rating Affirmed I R E L A N D ELAN CORPORATION: Settles Class Action for US$75 Million I T A L Y ALITALIA SPA: European Union Wants More Details on Business Plan PARMALAT FINANZIARIA: Parmatour Unit Attracts 50 Buyers VOLARE GROUP: Managing Director Leaves L U X E M B O U R G MILLICOM INTERNATIONAL: Subsidiary Renews GSM Deal in Pakistan N E T H E R L A N D S ISPAT INTERNATIONAL: Ratings on CreditWatch After Merger Deal NEW SKIES: Senior Subordinated Notes Rated Caa1 ROYAL AHOLD: To Pay SEK7.35 Bln for Canica's ICA Stake P O L A N D BANK OCHRONY: Fitch Affirms 'D' Individual Rating ELEKTRIM SA: Proposing to Sell Shares for ZE PAK Project P O R T U G A L CAIXA ECONOMICA: Individual Rating at 'C'; Outlook Negative R U S S I A METAL PROCESSING: Hires A. Demin Insolvency Manager NIZHEGORODSKIY FUR: Sets Deadline for Proofs of Claim NIZHNEUDINSKIY BAKERY: Appoints I. Dubinin Insolvency Manager POKROVSKIY DAIRY: Undergoes Bankruptcy Supervision Procedure RESEARCH-AND-PRODUCTION: Deadline for Proofs of Claim Set SEVER-NEFTE-PERERABOTKA: Under Bankruptcy Supervision SEWING-FANCY-GOODS: Altay Court Appoints Insolvency Manager SHADRINSKIY: Creditors Have Until November to File Claims SIB-METALLURG-MONTAZH: Declared Insolvent SVIRSKIY ACCUMULATOR: Sets Deadline for Proofs of Claim YUKOS OIL: Partner Withdraws Men, Equipment from Yuganskneftegaz S P A I N IZAR: Pays EUR3 Million for Delaying Contract IZAR: SEPI Scraps Plan; Creates Holding Company T U R K E Y ARAB TURKISH: Fitch Puts Individual Rating at 'D' U N I T E D K I N G D O M A.F.C. LIMITED: Creditors Have Until Next Month to File Claims AIR PRODUCTS: To Hold Final Meeting of Members Mid-November ALUMAX EXTRUSIONS: Final Meeting of Members Set December AMBER PROPERTIES: Special Winding up Resolution Passed AMKO BEARINGS: Calls General Meeting of Members ARMSTRONG EUROPE: Names Numerica Liquidator ARTESIA NATURAL: Brings in Receivers from Tenon Recovery A.S.A. SECURITY: Owners Agree to Liquidate Company BHD FLINT: Sets Creditors' Meeting Next Month CERAMIC CITY: Names Administrator from Walletts Insolvency DERWENT SHIRES: Members General Meeting Set Next Month EIDOS PLC: Tomb Raider to Appear on BREW-Enabled Mobile Phones EMI GROUP: Continues Outsourcing Strategy with Sale of CD Plant GARDNER CRYOGENICS: Sets Members Final Meeting GOLF AND LEISURE: Names Craig Le Cheminant Liquidator H.E. MOUL: Members General Meeting Set Next Month HOPES HAULAGE: Creditors to Meet First Week of November INTERDEAN (AIRFREIGHT): Members Final Meeting Set LEASE 123: Liquidator's Final Report Out Next Month LVR PROPERTIES: Calls in Liquidator from Phillips & Co. MARCONI CORPORATION: Top Russian Firm Subscribes to SDH Services MARDEO LIMITED: Members Appoint Liquidator MILLAC LIMITED: Members Opt to Wind up Business NIMMO PACKAGING: Hires Rothman Pantall & Co. as Administrator ORYX FUND: Members Agree to Appoint Liquidators PCL REALISATION: Unsecured Creditors to Meet November REDEVELOPED FISH: In Administrative Receivership SEIKO EUROPE: Hires Joint Liquidators from Deloitte & Touche SKYEPHARMA PLC: Gets Payment for DepoDur(TM) Deal SONCEBOZ UK: Brings in Liquidator from Finn Associates SONERA UK: Hires KPMG as Liquidator TETHYS LIMITED: Proofs of Claim Deadline Expires Weekend THE BRYN: SME Invoice Appoints Harrisons Receiver THE LEARNING: Calls in Liquidator from Grant Thornton TOMLANDER LIMITED: Insolvency Service Bans Two Directors TWP HOLDCO: Liquidator to Present Final Report Mid-December ********* =========== F R A N C E =========== PERRIER: CGT Union Wants Registered Designation of Origin --------------------------------------------------------- The Confederation Generale du Travail union (CGT) proposed a registered designation of geographical origin of Perrier in an effort to avert a relocation of its production, Les Echos says. CGT representative Jean-Paul Franc made the proposal in reaction to Nestle's statement that it has received various offers to acquire Perrier, although it has yet to make a firm decision on the matter. Meanwhile, unions availed the services of research firm Secafi- Alpha to assess Nestle's plan to split Nestle Waters France, into five separate companies. CONTACT: NESTLE WATERS FRANCE S.A. 9, Rue Maurice Mallet TSA 40001 92793 Issy Les Moulineaux Cedex 9 Phone: 33 (0) 1 41 23 38 00 Fax: 33 (0) 1 41 23 69 00 Web site: http://www.nestle-waters.com TEREOS SA: Ratings Withdrawn After Debt Repayments -------------------------------------------------- Standard & Poor's Ratings Services withdraws its long-term 'BB+' corporate credit and 'BB-' senior unsecured debt ratings on French sugar producer Tereos S.A. The withdrawal was made at the request of the company, which has no more public debt outstanding. Tereos S.A., which, as of Oct. 1, 2004, was absorbed by its parent Tereos (not rated) to become a "union of cooperatives," recently repaid its EUR45 million zero-coupon bond and de-listed or repaid the remaining notes outstanding under its US$500 million Euro Medium-Term Note program. Ratings information is available to subscribers of RatingsDirect, Standard & Poor's Web-based credit analysis system, at http://www.ratingsdirect.com. It can also be found at http://www.standardandpoors.com. Alternatively, call one of the following Standard & Poor's numbers: London Ratings Desk (44) 20-7176-7400; London Press Office Hotline (44) 20-7176- 3605; Paris (33) 1-4420-6708; Frankfurt (49) 69-33-999-225; Stockholm (46) 8-440-5916; or Moscow (7) 095-783-4017. Members of the media may also contact the European Press Office via e- mail: media_europe@standardandpoors.com. CONTACT: STANDARD AND POOR'S RATING SERVICES Group E-mail Address CorporateFinanceEurope@standardandpoors.com TEREOS S.A. Tour Lilleurope, Parvis de Rotterdam 92572 Lille, F-59777, France Phone: +33-3-28-38-79-30 Fax: +33-3-28-38-79-31 Web site: http://www.tereos.com VIVENDI UNIVERSAL: Senior Unsecured Debt Rating Upgraded to Baa3 ---------------------------------------------------------------- Moody's Investors Service raised the senior unsecured debt rating of media group Vivendi Universal to Baa3 from Ba1. The upgrade recognizes the benefits of the French "Consolidated Global Profits" regime awarded to the firm earlier this year, and the steady operating performance of the company. The grant will allow Vivendi to offset substantial loss carry forwards at the parent company (approximately EUR3.8 billion) against tax paid at any greater than 50%-owned asset. This will give the firm some support to maintaining its current configuration. Expected cash tax savings from 2005 onwards are substantial at approximately 500 million p.a. Moody's said the award confirms that Vivendi "intends to pursue a more measured approach towards future acquisitions." The rating outlook is stable assuming the firm will stick to its major remaining asset sales. Vivendi has plans of selling its 20.4% participation in Veolia Environment and its indirect 24.5% stake in Polish mobile operator PTC (held through Elektrim Telekommunikacja). The Baa3 assumes that Vivendi would manage its future outflows to retain its regained financial flexibility. The firm expects to resume dividend payments next year. CONTACT: VIVENDI UNIVERSAL S.A. Investor Relations, Paris Daniel Scolan Phone: +33 (0) 1 71 71 32 91 Laurence Daniel Phone: +33 (0) 1 71 71 12 33 Or New York Eileen McLaughlin Phone: +(1) 212.572.8961 ============= G E R M A N Y ============= ABC DRUCKEREI: Publishing Firm Falls into Bankruptcy ---------------------------------------------------- The district court of Hamburg opened bankruptcy proceedings against publishing house ABC Druckerei & Verlag GmbH on Oct. 1. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Nov. 10, 2004 to register their claims with court-appointed provisional administrator Dr. Olaf Buchler. Creditors and other interested parties are encouraged to attend the meeting on Dec. 10, 2004, 10:40 a.m. at the insolvency court of Hamburg Weidestrasse 122d, 22083 Hamburg, Saal 1, 2 Ebene at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: ABC DRUCKEREI & VERLAG GMBH Kieler Strasse 302, 22525 Hamburg Dr. Olaf Buchler, Insolvency Manager Herrengraben 3, 20459 Hamburg Phone: 36968351 Fax: 36968383 AMBULANTER PFLEGEDIENST: Under Bankruptcy Administration -------------------------------------------------------- The district court of Hamburg opened bankruptcy proceedings against Ambulanter Pflegedienst MEDITAS GmbH on Sept. 30. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Nov. 10, 2004 to register their claims with court-appointed provisional administrator Jorn Weitzmann. Creditors and other interested parties are encouraged to attend the meeting on Dec. 10, 2004, 10:10 a.m. at the district court of Hamburg at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. Ambulanter provides domestic and ambulatory hospital services. CONTACT: AMBULANTER PFLEGEDIENST MEDITAS GMBH Colonnaden 18, 20354 Hamburg Contact: Fatemeh Farzaneh Mirbagheri, Manager Jorn Weitzmann, Insolvency Manager Arnold-Heise-Strasse 9, 20249 Hamburg Phone: 460797-0 Fax: 460797-25 BACKERGENOSSENSCHAFT SEELOW: Insolvency Administrator Named ----------------------------------------------------------- The district court of Frankfurt (Oder) opened bankruptcy proceedings against Backergenossenschaft Seelow/Strausberg eG on Oct. 10. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Nov. 4, 2004 to register their claims with court-appointed provisional administrator Dr. Detlef-Rudiger Beckmann. Creditors and other interested parties are encouraged to attend the meeting on Dec. 9, 2004, 11:20 a.m. at the district court of Frankfurt (Oder) Logenstrasse 13, 15230 Frankfurt (Oder), at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: BACKERGENOSSENSCHAFT SEELOW/STRAUSBERG EG Feldstrasse, 15306 Seelow Dr. Detlef-Rudiger Beckmann, Insolvency Manager Lietzenburger Str. 77, 10719 Berlin B MOTE: Sets Creditors' Meeting Last Week of November ----------------------------------------------------- The district court of Stuttgart opened bankruptcy proceedings against B Mote Media Film + Videoproduktion GmbH on October 1. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until October 29, 2004 to register their claims with court-appointed provisional administrator Michael Pluta. Creditors and other interested parties are encouraged to attend the meeting on November 25, 2004, 8:30 a.m. at AG Stuttgart, Hauffstr. 5, EG, Zimmer 20 at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: B MOTE MEDIA FILM + VIDEOPRODUKTION Furtwangler Str. 44 70195 Stuttgart Contact: Ursula M. Brandt, Manager Michael Pluta, Insolvency Manager Albstr. 14 70597 Stuttgart Phone: 0711/7696880 ELM DRUCKERZEUGNISSE: Court to Verify Claims November ----------------------------------------------------- The district court of Darmstadt opened bankruptcy proceedings against ELM Druckerzeugnisse GmbH on Oct. 1. Consequently, all pending proceedings against the company have been automatically stayed. The administrator presented his first report of the insolvency proceedings on Oct. 18. The court will verify the claims set out in the report on Nov. 24, 2004, 9:00 a.m. at Saal U2, Gebaude E, Landwehrstrasse 48, 64293 Darmstadt. CONTACT: ELM DRUCKERZEUGNISSE GMBH Bergstrasse 5 64354 Reinheim Phone: 06162 / 9315-0 Fax: 06162 / 9315-30 E-mail: info@elmgmbH.de Web site: http://www.elmgmbh.de/entw.htm Marcus Heinz Grasmann, Manager Frank Volger, Insolvency Manager Anne Frank Strasse 6 64823 Gross-Umstadt Phone: 06078/912313 Fax: 06078/912314 FLASCHNEREI FUCHS: Sets Deadline for Filing of Claims ----------------------------------------------------- The district court of Stuttgart opened bankruptcy proceedings against Flaschnerei Fuchs GmbH on Oct. 1. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Nov. 2, 2004 to register their claims with court-appointed provisional administrator Dr. Reinhard Th. Schmid. Creditors and other interested parties are encouraged to attend the meeting on Nov. 25, 2004 2:30 p.m. at the district court of Stuutgart, Hauffstr 5, EG, Saal 4 at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: FLASCHNEREI FUCHS GMBH Strassburger Str. 38 70435 Stuttgart Contact: Uwe Buck, Manager Dr. Reinhard Th. Schmid, Insolvency Manager Hasenbergsteige 5 70178 Stuttgart Phone: 0711/669070 Fax: 0711/6645068 HANNELORE SCHUMACHER: Cologne Court Appoints Administrator ---------------------------------------------------------- The district court of Cologne opened bankruptcy proceedings against Hannelore Schumacher Gesellschaft on Oct. 1. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Nov. 2, 2004 to register their claims with court-appointed provisional administrator Jana Dettmer. Creditors and other interested parties are encouraged to attend the meeting on Dec. 1, 2004, 9:15 a.m. at the district court of Koln Hauptstelle, Luxemburger Strasse 101, 50939 Koln, Erdgeschoss, Saal 14 at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: HANNELORE SCHUMACHER GESELLSCHAFT Josef Bitschnau Str. 62-64, 50169 Kerpen Contact: Michael Schumacher, Manager Jana Dettmer, Insolvency Manager Weyerstr. 54, 50676 Koln Phone: 0221/92 12 17 - 0 Fax: +4922192121720 KARSTADTQUELLE AG: Turnover at Mail-order Unit Down --------------------------------------------------- Continuing talks regarding the future of ailing retail giant KarstadtQuelle AG seemed to have driven away customers, causing the group's turnover to plummet, Die Welt says. The retail giant's mail-order unit, Quelle, saw its turnover fell by more than ten percent since KarstadtQuelle announced its restructuring plan on September 28. The group denied media reports that Quelle's turnover dropped as much as 35%. Market experts said rumors on KarstadtQuelle's possible insolvency caused many customers to stop patronizing Quelle. KarstadtQuelle chairman Christoph Achenbach earlier announced an eight-percent drop in turnover for the third quarter of 2004. The group's creditor banks are doubting whether the company could achieve the targets outlined in the group's restructuring plan, drafted by Mr. Achenbach himself. Unions, particularly Ver.di, expressed its opposition to the group's plan to sell or close down 77 of its 181 department stores and 305 retail outlets, as it would leave around 30,000 jobless. KarstadtQuelle was able to reach an agreement with unions in mid-October. CONTACT: KARSTADTQUELLE A.G. Theodor-Althoff-Str. 2 D-45133 Essen Phone: +49-201-727-1 Fax: +49-201-727-5216 Web site: http://www.karstadtquelle.com METALLWERK WERDAU: Court to Examine Late Claims November -------------------------------------------------------- The insolvency court of Chemnitz has set a special verification meeting on Nov. 9, 2004, 11:50 a.m. for late claims filed against Metallwerk Werdau GmbH. The meeting will be at the court of Chemnitz, Furstenstr. 21, Sitzungssaal 24. CONTACT: METALLWERK WERDAU GMBH (HRB 10440), Greizer Str. 70, 08412 Werdau Contact: Karl-Heinz Zielonka, Manager NCB INFORMATIONSTECHNIK: To Hold Creditors' Meeting December ------------------------------------------------------------ The district court of Stuutgart opened bankruptcy proceedings against NCB Informationstechnik GmbH & Co. KG on Oct. 1. Consequently, all pending proceedings against the company have been automatically stayed. Creditors and other interested parties are encouraged to attend the meeting on Dec. 2, 2004 8:00 a.m. at AG Stuttgart, Hauffstr. 5, EG, Zimmer 20 at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: NCB INFORMATIONSTECHNIK GMBH & CO. KG Max Planck Str. 6-8 71116 Gartringen Phone: +49 (7034) 256 - 0 Fax: +49 (7034) 256 - 2999 Web site: http://www.ncb.de Contact: Hartwig Bazzanella, Manager Dr. Philipp Grub, Insolvency Manager Humboldtstr. 16 70178 Stuttgart Phone: 0711/96689-0 Fax: 0711/96689-19 NIEDERRHEINISCHE BEWACHUNGS: Under Bankruptcy Administration ------------------------------------------------------------ The district court of Dusseldorf opened bankruptcy proceedings against Niederrheinische Bewachungs-Gesellschaft mbH on Oct. 6. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Nov. 15, 2004 to register their claims with court-appointed provisional administrator Dr. Biner Bahr. Creditors and other interested parties are encouraged to attend the meeting on Nov. 22, 2004, 9:40 a.m. at the district court of Dusseldorf Hauptstelle, Muhlenstrasse 34, 40213 Dusseldorf, 4. OG. Altbau, A 409 at which time the administrator will present his first report of the insolvency proceedings. The court will verify the claims set out in the administrator's report on Dec. 6, 2004, 10:05 a.m. at the same venue. CONTACT: NIEDERRHEINISCHE BEWACHUNGS-GESELLSCHAFT MBH Achenbachstr. 59, 40237 Dusseldorf Dr. Biner Bahr, Insolvency Manager Jagerhofstrasse 29, 40479 Dusseldorf PARK HOTEL: Creditors Have Until November to File Claims -------------------------------------------------------- The district court of Potsdam opened bankruptcy proceedings against "Park Hotel Seehof GmbH" on Oct. 1. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Nov. 19, 2004 to register their claims with court-appointed provisional administrator Christian Graf Brockdorff. Creditors and other interested parties are encouraged to attend the meeting on Dec. 22, 2004, 8:45 a.m. at the district court of Potsdam Nebenstelle Lindenstrasse 6, Saal 004 statt at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: "PARK HOTEL SEEHOF GMBH" Contact: Prof. Dr.-Ing. Klaus-Gerd Lederer, Manager Thomas Badstubner Am Seehof, 14778 Beetzsee Christian Graf Brockdorff, Administrator Breite Strasse 9 A, 14467 Potsdam PH. H. BAUGESELLSCHAFT: Creditors' Meeting Set November ------------------------------------------------------- The district court of Cloppenburg opened bankruptcy proceedings against PH. H. Baugesellschaft mbH on Oct. 1. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Dec. 17, 2004 to register their claims with court-appointed provisional administrator Hans Peter Goken. Creditors and other interested parties are encouraged to attend the meeting on Nov. 19, 11:15 a.m. at Saal 6, Hauptgebaude, Burgstrasse 9, 49661 Cloppenburg at the district court of at which time the administrator will present his first report of the insolvency proceedings. The court will verify the claims set out in the administrator's report on Jan. 7, 2005, 11:00 a.m. at the same venue. CONTACT: PH. H. BAUGESELLSCHAFT MBH Schaferstrasse 11, 26219 Bosel Contact: Alfons Elberfeld, Manager Oppelner Weg 1, 26219 Bosel Hans Peter Goken, Insolvency Manager Muhlenstrasse 11, D-26169 Friesoythe, Phone: 04491/92950 Fax: 04491/929544 SCHAFER METALLBAU: Creditors Have Until this Week to File Claims ---------------------------------------------------------------- The district court of Stuttgart opened bankruptcy proceedings against Schafer Metallbau GmbH & Co. KG on Oct. 1. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Oct. 29, 2004 to register their claims with court-appointed provisional administrator Wolfgang Hauser. Creditors and other interested parties are encouraged to attend the meeting on November 25, 10:00 a.m. at the district court of Stuttgart, Hauffstr 5, EG, Saal 4 at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: SCHAFER METALLBAU GMBH & CO. KG Maybachstr. 14 71332 Waiblingen, Contact: Franz Josef Pauser, Manager Wolfgang Hauser, Insolvency Manager Mohringer Landstrasse 5 70563 Stuttgart Phone: 0711/90134-20 Fax: 0711/90134-49 SCHILDWACHTER GBR: Creditors to Meet Next Month ----------------------------------------------- The district court of Dusseldorf opened bankruptcy proceedings against Schildwachter GbR Oct. 5. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Nov. 8, 2004 to register their claims with court-appointed provisional administrator Dr. Jong Nerlich. Creditors and other interested parties are encouraged to attend the meeting on Nov. 15, 2004, 9:15 a.m. at the district court of Dusseldorf Hauptstelle, Muhlenstrasse 34, 40213 Dusseldorf, 3.OG Altbau, A 388 at which time the administrator will present his first report of the insolvency proceedings. The court will verify the claims set out in the administrator's report on Nov. 29, 2004, 9:15 a.m. at the same venue. CONTACT: SCHILDWACHTER GBR Am Wehrhahn 100, 40211 Dusseldorf Contact: Jurgen Schildwachter, Manager Dorotheenstrasse 23, 40235 Dusseldorf Peter-Jan Schildwachter, Manager Melanchtonstrasse 3, 41466 Neuss Dr. Jorg Nerlich, Insolvency Manager Louise-Dumont-Str. 25, 40211 Dusseldorf SMB FENSTER: Administrator Takes over Operations ------------------------------------------------ The district court of Leipzig opened bankruptcy proceedings against SMB Fenster- und Turenbau GmbH i.L. on Oct. 4. Consequently, all pending proceedings against the company have been automatically stayed. Creditors have until Nov. 16, 2004 to register their claims with court-appointed provisional administrator Heiko Kratz. Creditors and other interested parties are encouraged to attend the meeting on Dec. 16, 2004, 10:00 a.m. at Saal 145, district court of Leipzig at which time the administrator will present his first report of the insolvency proceedings. The court will also verify the claims set out in the administrator's report during this meeting, while creditors may constitute a creditors committee and or opt to appoint a new insolvency manager. CONTACT: SMB FENSTER- UND TURENBAU GMBH I.L. LPG Str. 20, 04575 Neukieritzsch Contact: Helfried Sacher, Manager Heiko Kratz, Insolvency Manager Fregestrasse 29, 04105 Leipzig WUESTENROT BANK: 'C' Individual Rating Affirmed ----------------------------------------------- Fitch Ratings affirmed both Wuestenrot Bank AG's (WB) and subsidiary Wuestenrot Hypothekenbank AG's (WHyp) ratings at Long-term 'BBB+', Short-term 'F2', Individual ratings 'C' and Support '2'. The Outlook for the Long-term ratings is Stable. Additionally, Fitch has affirmed WHyp's public sector Pfandbrief rating at 'AAA' and its mortgage Pfandbrief rating at 'AA+'. WB's Long-term, Short-term and Support ratings reflect the potential support available from the group holding company, W&W AG. Should W&W be unable to provide support to WB, it is Fitch's opinion that capital support would be practically sourced from WB's financially strong sister bank, Wuestenrot Bausparkasse (WBSK). WB's Individual rating is based on the close operational ties with WBSK, its still low credit risk and its enhanced risk management. It also considers WB's small size in the highly fragmented German home loan market, weak capitalization and low profitability. WHyp's ratings are equalized with the ratings of its parent, WB, reflecting the strong business integration as well as the profit-and-loss sharing agreement between the two. WB acquired WHyp at end-2003 as part of changes to W&W's banking operations. WHyp's business is being integrated into that of WB to make its mortgage bank status available for the rest of the W&W's banking operations. Approval from the German regulator, BaFin, is being sought for this business model. WHyp's existing commercial mortgage and public sector lending are being run-off. In light of the new Pfandbrief law, the banks are likely to merge during 2005. Over 95% of WB's mortgage loans are for residential, largely owner-occupied and domestic properties. Actual loan losses have been low, at 0.26% of loans in 2003 at WB, and even lower at WHyp. WHyp's asset quality has been affected by commercial mortgage lending. While its reserve coverage is adequate at around 30%, this could change depending on the future state of the German property sector. WB, WBSK and WHyp are the banking arms of the W&W bancassurance group and specialize in domestic home finance. W&W draws strength primarily from its strongest two subsidiaries, WBSK and Wuerttembergische Lebensversicherung. In particular, the former is a stable pillar of the group due to its low-risk savings and home loan (Bauspar) business and its sound capitalization. WBSK has re-captured some of the market share lost in 2003 and currently has around 10% market share. W&W was formed in 1999 by the merger of the Wuestenrot banking and Wuerttembergische insurance groups, and distributes residential mortgage financing and insurance products throughout Germany. W&W has over EUR55 billion assets, 5.5 million customers and a well-known brand. CONTACT: FITCH RATINGS Michael Steinbarth, London Phone: +44 20 7862 4068 Britta Graf-Tiedtke, Frankfurt Phone: +49 69 7680 76160 Media Relations: Campbell McIlroy, London Phone: +44 20 7417 4327 ============= I R E L A N D ============= ELAN CORPORATION: Settles Class Action for US$75 Million -------------------------------------------------------- Elan Corporation, plc has reached an agreement to settle the previously disclosed consolidated class action pending in the U.S. District Court for the Southern District of New York. The class action, which consolidated several class actions filed in early 2002, names the Company and certain of its former and current officers and directors as defendants. The settlement was submitted to the Court for preliminary approval Monday. Elan expects that the Court, which reserved decision on the settlement, will issue an order granting preliminary approval of the settlement in due course. The Company also announced that it and the Staff of the U.S. Securities and Exchange Commission have reached a provisional agreement to settle the investigation by the SEC's Division of Enforcement that commenced in February 2002. The provisional settlement, which is subject to final approval by the Commissioners of the S.E.C., will conclude all aspects of the investigation with respect to Elan. "This is an important step forward for Elan, its shareholders and patients. Taking this step will enable us to focus all of our energies on bringing innovative science to patients," said Kelly Martin, Elan's president and chief executive officer. Terms of Class Action Settlement Under the class action settlement, all claims against the Company and the other named defendants will be dismissed with no admission or finding of wrongdoing on the part of any defendant. The principal terms of the settlement provide for an aggregate cash payment to class members of US$75 million, out of which the Court will be asked to award attorneys' fees to plaintiffs' counsel, and US$35 million of which will be paid by the Company's insurance carrier. The terms of the settlement are subject to preliminary and final Court approval and notice to class members. The Company expects the Court to issue an order granting preliminary approval of the settlement in due course. Terms of Provisional Settlement with S.E.C. Under the agreement provisionally reached with the S.E.C. Staff, the Company will neither admit nor deny the allegations contained in the SEC's civil complaint, which will include allegations of violations of certain provisions of the federal securities laws, including Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The settlement will contain a final judgment restraining and enjoining the Company from future violations of these provisions. In addition, under the final judgment, the Company will agree to pay a civil penalty of US$15 million. In connection with the settlement, the Company will not be required to restate or adjust any of its historical financial results or information. The terms of the settlement are provisional and are subject to the final approval of the Commissioners of the S.E.C. If approved, the settlement will conclude all aspects of the investigation with respect to Elan. On October 4, 2004, the Company announced that it had included in its financial statements a reserve of US$55 million, net of insurance coverage, to cover the Company's estimated liability related to the shareholder class action and the S.E.C. investigation. About Elan Elan is a neuroscience-based biotechnology company that is focused on discovering, developing, manufacturing, selling and marketing advanced therapies in neurodegenerative diseases, autoimmune diseases and severe pain. Elan's (NYSE: ELN) shares trade on the New York, London and Dublin Stock Exchanges. CONTACT: ELAN CORPORATION Investor Relations: Emer Reynolds Phone: 353-1-709-4000/800-252-3526 Media Relations: Anita Kawatra Phone: 212-407-5740/800-252-3526 ========= I T A L Y ========= ALITALIA SPA: European Union Wants More Details on Business Plan ---------------------------------------------------------------- The European Commission has requested the government to provide more details on Alitalia's planned capital increase, Il Sole 24 Ore says. A spokesman for outgoing European transport commissioner Loyola de Palacio confirmed the request. The commission wants to take account of the balance sheet and capital of state holding company Fintecna, which has agreed to acquire 49% of Alitalia's ground services arm AZ Service. Fintecna will take the stake in exchange for injecting EUR750 million into the new unit. It is expected the request would lengthen the commission's review of Alitalia's 2005-2008 business plan, including its financing, by several weeks. Following a meeting with Ms. de Palacio recently, Alitalia Chairman Giancarlo Cimoli said he expects the commission to launch an in-depth investigation. CONTACT: ALITALIA S.p.A. Viale A. Marchetti 111 00148 Rome, Italy Phone: +39 06 6562 2151 Fax: +39 06 6562 4733 Web site: http://www.alitalia.it PARMALAT FINANZIARIA: Parmatour Unit Attracts 50 Buyers ------------------------------------------------------- Around 50 possible buyers expressed interest in acquiring Parmalat's tourism arm Parmatour, Il Osle 24 Ore says. They include real estate group Pirelli Real Estate, travel company Viaggi del Ventaglio and German travel firm TUI. Parmatour disclosed Thursday its debts have reached EUR826 million, which includes EUR353 million in banking debt. The travel company booked EUR48 million in turnover and EUR118 million in business volume. Parmatour's businesses include travel agencies, tour operators, holiday villages in Italy and abroad. The group also operates a travel Web site. CONTACT: PARMALAT FINANZIARIA S.p.A. Piazza Erculea 9 20122 Milan, Italy Phone: +39-02-806-8801 Fax: +39-02-869-3863 Web site: http://www.parmalat.net TUI AG Karl-Wiechert-Allee 4 D-30625 Hanover, Germany Phone: +49-511-566-00 Fax: +49-511-566-1098 Web site: http://www.tui.com VIAGGI DEL VENTAGLIO S.p.A. Via dei Gracchi, 35 20146 Milan Web site: http://www.ventaglio.com VOLARE GROUP: Managing Director Leaves -------------------------------------- Volare Group managing director Andrea Molinari has resigned from the charter and budget airline, according to Europe Intelligence Wire. Volare is putting a plan to raise between EUR80 million and EUR100 million in new capital for shareholders' approval early next month. The company will use the amount to cover debts and reduces loses. The parent company of Volare Airlines, Volare Web and Air Europe booked EUR300 million in debt and a EUR45 million net loss at the end of 2003. Earlier, chairman, Mauro Gambaro, warned the company might not able to survive beyond this month. CONTACT: VOLARE GROUP S.p.A. Via Pirelli, 20 20124 Milan Phone: (+39) 02 673 631 Fax: (+39) 02 673 630 90 Web site: http://www.volare-group.it =================== L U X E M B O U R G =================== MILLICOM INTERNATIONAL: Subsidiary Renews GSM Deal in Pakistan -------------------------------------------------------------- Millicom International Cellular S.A.'s subsidiary Paktel signed agreements with the Pakistan regulator (PTA) to switch on its GSM network with immediate effect without charge and to renew its license for 15 years from October 23, 2004. Paktel and the PTA have agreed deferred payment terms for the license fee of US$291 million for the license, which will enable Paktel to pay 50% of the license fees in installments over the first three years of the license. The second 50% of the license fee will be payable in ten yearly payments from 2008 through to 2017. Payments already made by Paktel for the GSM migration since 2002, totaling some US$14 million, will be treated as the first down payment towards Paktel's new license fee. Paktel has been awarded additional 1800 spectrum, increasing its total spectrum for its GSM network from 10MHz to 13.6MHz. Marc Beuls, President and CEO commented: "We are very pleased that we can launch Paktel's GSM services in a fast growing market, so allowing the company to build a substantial customer base ahead of the new operators coming into the market next year. The 15-year extension of the license combined with the deferred payment terms means that Millicom will be able to meet Paktel's investment and license commitments primarily out of the operating cash flows generated by Paktel. The cash shortfall during the first two years, which is expected to be approximately US$50 million, will paid out of Millicom's free cash flow. We believe that Pakistan, with over 150 million people and a fast growing economy, will be one of the most attractive mobile telephony markets in the world in the coming years." Millicom International Cellular S.A. (Nasdaq Stock Market: MICC, Stockholmsborsen and Luxembourg Stock Exchange: MIC), is a global telecommunications investor with cellular operations in Asia, Latin America and Africa. It currently has a total of 16 cellular operations and licenses in 15 countries. The Group's cellular operations have a combined population under license of approximately 387 million people. * * * In Sept., Standard & Poor's Ratings Services revised its outlook on Millicom International to negative from stable due to concerns over recent developments in two of its Asian markets. This market is key to Millicom, boasting strong revenue and profit opportunities, and is viewed as an important support to the ratings. At the same time, Standard & Poor's affirmed its 'B+' long-term corporate credit and 'B-' senior unsecured debt ratings on Millicom. CONTACTS: MILLICOM INTERNATIONAL CELLULAR S.A. Marc Beuls President and Chief Executive Officer Phone: +352 27 759 327 Web site: http://www.millicom.com Andrew Best Investor Relations Phone: +44 20 7321 5022 ===================== N E T H E R L A N D S ===================== ISPAT INTERNATIONAL: Ratings on CreditWatch After Merger Deal ------------------------------------------------------------- Standard & Poor's Ratings Services placed its ratings on Dutch- registered steel consortium Ispat International N.V. and U.S.- based International Steel Group Inc. (ISG) on CreditWatch with positive implications. Prior to the CreditWatch action, Standard & Poor's raised its 'B' corporate credit and senior secured debt ratings to 'BB-' for Ispat and its subsidiaries, Ispat Inland Inc., Ispat Inland L.P., Ispat Europe Group S.A., Ispat Mexicana S.A de C.V., and Ispat Sidbec Inc. The Credit Watch placement and rating upgrade follow the announcement that Ispat will acquire sister company LNM Holdings N.V., one of Europe's lowest-cost steelmakers, and that the combined group has agreed to acquire ISG, North America's largest steelmaker. The acquisitions, which are subject to shareholder and regulatory approvals, would create the world's largest steelmaker, and an entity with a stronger credit profile than that of Ispat and ISG on a standalone basis. "The combined entity could be rated investment grade, subject to management's disclosure of its financial policies and its appetite for further acquisitions," said Standard & Poor's credit analyst Tommy Trask. The combined company, to be named Mittal Steel Co. N.V., is expected to have US$3.2 billion of net debt and approximately US$1.5 billion of pension and other post employment benefit liabilities (net of tax) at the end of 2004, while generating US$5.1 billion of net income in 2004 on steel shipments of 57 million tons. Mittal Steel will rank as the world's largest steel producer in terms of volume, earnings and market capitalization. The key attractions of the combined entity are strong market position, geographical diversification, and low-cost operations characterized by strong vertical integration into iron ore (40% self-sufficiency) and coke (100% self-sufficiency). The debt level is considered moderate, given the strong cash flow generation. The CreditWatch action will be resolved on consummation of the proposed transactions. The first step (Ispat's acquisition of LNM) should be completed by the end of 2004, while the second step (Ispat's merger with ISG) is planned to be completed by the end of the first quarter of 2005. Complete ratings information is available to subscribers of RatingsDirect, Standard & Poor's Web-based credit analysis system, at http://www.ratingsdirect.com. All ratings affected by this rating action can be found at http://www.standardandpoors.com. CONTACT: ISPAT INTERNATIONAL N.V. (NYSE: IST [ADR]) Hofplein 20, 15th Fl. 3032 Rotterdam, The Netherlands Phone: +31-10-282-9465 Fax: +31-10-282-9468 Web site: http://www.ispat.com NEW SKIES: Senior Subordinated Notes Rated Caa1 ----------------------------------------------- Moody's Investors Service assigns a B2 senior implied rating, and a B3 senior unsecured issuer rating to New Skies Satellites, B.V. It concurrently assigned a B1 rating to the firm's uS$75 million senior secured revolving credit facility, and US$460 million senior secured term loan; and a B3 rating to its US$160 million senior unsecured floating rate not. New Skies' US$125 million senior subordinated notes were rated Caa1. The outlook for all ratings is stable. Moody's said the rating actions reflect substantial financial risk associated with its proposed recapitalization, significant operating risk inherent in the satellite industry, and challenging competitive environment. The rating agency expressed concern on New Skies' small size: it has only five satellites in its operating fleet. "New Skies operating flexibility is more limited, and the relative impact of a potential in-orbit loss to the company's overall financial strength is significantly higher," Moody's said. But it added that the quality, age, unused capacity and strong track record of the New Skies fleet to date partially mitigates this risk. Moody's notes the communication industry is beset with oversupply. Looking forward, it does not expect New Skies' margins to improve in the near term as a result of possible developments in the market largely due to significant insurance costs. CONTACT: NEW SKIES Web site: http://www.newskies.com ROYAL AHOLD: To Pay SEK7.35 Bln for Canica's ICA Stake ------------------------------------------------------ Koninklijke Ahold has reached final agreement with Canica a.s. on the purchase price of Canica's 20% interest in the Scandinavian joint venture ICA AB. Ahold became obligated to buy Canica's interest as a result of Canica's exercise on July 12, 2004 of its put option under the existing Shareholders' Agreement for the ICA AB joint venture. The total purchase price, including premium, to be paid by Ahold for the 20% stake amounts to SEK7.35 billion (approximately EUR811 million). The purchase price was agreed between Ahold and Canica without having to resort to the independent valuation procedure provided for in the Shareholders' Agreement. ICA Forbundet Invest AB, the other ICA AB joint venture partner, has agreed, as earlier announced on July 19, 2004, to purchase in cash from Ahold half of the Canica stake for SEK2.89 billion (approximately EUR318 million). After giving effect to these purchases, Ahold and ICA Forbundet will own 60% and 40%, respectively, of ICA AB. Closing of the transactions is expected before the end of November 2004. As a result of the agreement between Ahold and ICA Forbundet, Ahold will pay more per share to Canica than it will receive from ICA Forbundet, which will result in Ahold recording an expense of EUR87 million in the third quarter of 2004 under Dutch GAAP. As part of that agreement, among other things, all put arrangements in the Shareholders' Agreement will be abolished upon completion of the abovementioned transactions. Extraordinary dividend of ICA AB After the completion of the purchases of the Canica stake in ICA AB, Ahold and ICA Forbundet intend to cause ICA AB to pay an extraordinary dividend of SEK5.5 billion (approximately EUR606 million). This dividend will be paid to Ahold and ICA Forbundet in proportion to their final stake in ICA AB, respectively 60% and 40%. By doing this, both shareholders make use of the strong balance sheet of ICA AB. Ahold and ICA Forbundet intend to cause an extraordinary general meeting of shareholders of ICA AB to be held as soon as practicable after the completion of the purchases of Canica's stake. Financing Ahold intends to use available cash to fund the purchase of Canica's shares. The funds that Ahold will receive as a result of the extraordinary dividend will be added to its cash balances, replenishing a portion of the cash it will pay to Canica. The total net liquidity impact for Ahold, for the share transactions and the receipt of the extraordinary dividend, will be a cash outflow of approximately EUR129 million. "We are very pleased with [the] announcement. The agreement with Canica represents a significant step in Ahold's 'Road to Recovery' and concludes another issue that caused uncertainty for stakeholders," commented Ahold President and CEO Anders Moberg. "ICA is a strong and leading supermarket brand in Scandinavia. [This] announcement also highlights the stable and healthy foundation and strengthened cooperation with which Ahold and ICA Forbundet will take the joint venture forward." CONTACT: ROYAL AHOLD Corporate Communications Phone: +31.75.659.5720 =========== P O L A N D =========== BANK OCHRONY: Fitch Affirms 'D' Individual Rating ------------------------------------------------- Fitch Ratings affirmed the Poland-based Bank Ochrony Srodowiska's ratings at Long-term 'BBB-', Short-term 'F3', Individual 'D' and Support '2'. The Outlook on the Long-term rating remains Stable. The Long-term, Short-term and Support ratings are based on the potential support available to the bank from the Polish state should it ever be required. BOS is 45%-owned by National Fund for Environmental Protection and Water Management, an organization that is to some extent controlled by the Ministry of Environment. BOS currently distributes around half of all environmental loans funded by the state. The Individual rating takes into account BOS' profitability, which continues to be weak, although it improved on a pre- provisioning operating level in 1H2004. Asset quality is poor in a depressed operating environment and Fitch considers reserve coverage to be low. However, BOS is benefiting from the involvement of Sweden-based SEB, which has a 47%-interest in the bank. "SEB's involvement is constrained by its minority stake in BOS," says Tim Beck of Financial Institutions at Fitch. "However, co- operation has increased and BOS has benefited to some extent from SEB's expertise in commercial practices." BOS was founded to finance environmental protection projects but has since diversified to become a medium-sized universal bank. CONTACT: FITCH RATINGS Tim Beck, London Phone: +44 (0) 20 7417 3460 Claudia Nelson Phone: +44 (0) 20 74717 4269 Media Relations: Campbell McIlroy, London Phone: +44 20 7417 4327 ELEKTRIM SA: Proposing to Sell Shares for ZE PAK Project -------------------------------------------------------- Elektrim S.A. is proposing to sell shares to raise fund for the construction of new power block at the ZE PAK power plant, according to Warsaw Business Journal. The company needed EUR350 million to conclude its investment. It is applying for a loan from banks, but the deal hinges on an agreement with the National Grid. "We are fed up with waiting for the decision of the National Grid concerning deliveries of our energy, said Zygmunt Solorz- Zak, the largest shareholder in Elektrim. Elektrim is to submit to the Treasury Ministry new proposals, which included the rights issue, for funding the project this week. "The new shares could be purchased by a foreign sector investor, which should be no problem, as we have already initial declarations. These are large energy companies, which could guarantee the investment," explained Mr. Solorz-Zak. CONTACT: ELEKTRIM S.A. Panska 77/79 00-834 Warszawa Public relations: Ewa Bojar Company Spokesman Phone: (+48 22) 432 89 55 Fax: (+48 22) 432 87 99 E-mail: ewa_bojar@elektrim.pl Investor relations: Phone: (+48 22) 432 87 75 Fax: (+48 22) 432 87 99 Web site: http://www.elektrim.pl ELEKTROWNIA PATNOW 62-510 Konin ul. Kazimierska 45 Phone: +48(63) 247-30-00 Fax: +48(63) 247-30-30 Web site: http://www.zepak.com.pl =============== P O R T U G A L =============== CAIXA ECONOMICA: Individual Rating at 'C'; Outlook Negative ----------------------------------------------------------- Fitch Ratings affirmed Caixa Economica Montepio Geral's ratings at Long-term 'A-', Short-term 'F2', Individual 'C' and Support '4'. The rating Outlook remains Negative. The Long-term, Short-term and Individual ratings reflect Montepio Geral's relatively low-risk mortgage lending activities, sound regulatory capital base and its strong franchise in its niche business. The Negative Outlook reflects the bank's low profitability, as competitive pressures, the need to improve liquidity to comply with the Bank of Portugal's more stringent requirements and lower interest rates have significantly reduced the bank's margin, its traditional strength. Loan loss provisions have also been high, largely owing to increased non-performing loans and a change in Bank of Portugal regulations. In 2003 a new chairman and other members of the board of directors were appointed, and the bank is now more actively seeking to improve commission income by increasing the cross- selling of the group's products, notably pensions, insurance and investment funds, and raising additional fees from banking services. However, net fees and commission income still only accounted for 18% of net operating revenues in H104. Management is also making efforts to control overheads and funding costs. In H104 the bank's profitability improved slightly but remained low. Asset quality has seen some deterioration, with non-performing loans accounting for 3.7% of total loans at end-June 2004. However, loan loss coverage was 85%, which is ample as around 78% of non-performing loans are secured by mortgages. Exposure to market risks is limited. Montepio Geral focuses on collecting retail deposits and providing housing and construction-related loans. It had an 8.9% share of the Portuguese mortgage lending market at end- 2003. It is wholly owned by Montepio Geral Associacao Mutualista, a not-for-profit mutual organisation, which provides social benefits to its members. The credit research on Montepio Geral is available on Fitch's subscription Web site -- http://www.fitchresearch.com-- or by contacting the agency's Ratings Desk in London at Phone: +44 20 7417 6300. CONTACT: FITCH RATINGS Santiago Gallo, London Phone: +44 207 417 4250 Philip Smith Phone: +44 207 417 4340 Media Relations: Campbell McIlroy, London Phone: +44 20 7417 4327 =========== R U S S I A =========== METAL PROCESSING: Hires A. Demin Insolvency Manager --------------------------------------------------- The Arbitration Court of Nizhniy Novgorod region has commenced bankruptcy proceedings against Metal Processing after finding the limited liability company insolvent. The case is docketed as A43-12876/03-318-23. Mr. A. Demin has been appointed insolvency manager. Creditors have until November 17, 2004 to submit their proofs of claim to 603167, Russia, Nizhniy Novgorod, Marshala Kazakova Str. 3, Office 701. CONTACT: METAL PROCESSING Russia, Nizhniy Novgorod, Nartova Str. 6 Mr. A. Demin Insolvency Manager 603167, Russia, Nizhniy Novgorod, Marshala Kazakova Str. 3, Office 701 NIZHEGORODSKIY FUR: Sets Deadline for Proofs of Claim ----------------------------------------------------- The Arbitration Court of Nizhniy Novgorod region has commenced bankruptcy proceedings against Nizhegorodskiy Fur after finding the open joint stock company insolvent. The case is docketed as A43-1679/04-24-46. Mr. A. Burzilov has been appointed insolvency manager. Creditors have until November 18, 2004 to submit their proofs of claim to 603155, Russia, Nizhniy Novgorod, Trudovaya Str. 8-37. CONTACT: NIZHEGORODSKIY FUR Russia, Nizhniy Novgorod region, Dalnekonstantinovskiy region, Rumstikha Mr. A. Burzilov Insolvency Manager 603155, Russia, Nizhniy Novgorod, Trudovaya Str. 8-37 Phone/Fax: 8 (8312) 193309 NIZHNEUDINSKIY BAKERY: Appoints I. Dubinin Insolvency Manager ------------------------------------------------------------- The Arbitration Court of Irkutsk region has commenced bankruptcy proceedings against Nizhneudinskiy Bakery after finding the unitary municipal enterprise insolvent. The case is docketed as A19-15481/04-38. Mr. I. Dubinin has been appointed insolvency manager. Creditors may submit their proofs of claim to 665106, Russia, Irkutsk region, Nizhneudinsk, Sovetskaya Str. 16. CONTACT: Mr. I. Dubinin Insolvency Manager 665106, Russia, Irkutsk region, Nizhneudinsk, Sovetskaya Str. 16 Phone/Fax: 7-12-92 POKROVSKIY DAIRY: Undergoes Bankruptcy Supervision Procedure ------------------------------------------------------------ The Arbitration Court of Rostov region has commenced bankruptcy supervision procedure on limited liability company Pokrovskiy Diary. The case is docketed as A53-14376/2004-S2-9. Ms. G. Taskina has been appointed temporary insolvency manager. Creditors may submit their proofs of claim to 344002, Russia, Rostov-na-Donu, B. Sadovaya Str. 96, Office 204. A hearing will take place on November 1, 2004. CONTACT: POKROVSKIY DAIRY Russia, Rostov region, Neklinovskiy region, Pokrovskoye, O. Koshevogo Str. 22 Ms. G. Taskina Temporary Insolvency Manager 344002, Russia, Rostov-na-Donu, B. Sadovaya Str. 96, office 204 RESEARCH-AND-PRODUCTION: Deadline for Proofs of Claim Set --------------------------------------------------------- The Arbitration Court of Novosibirsk region has commenced bankruptcy proceedings against The Research-And-Production Enterprise after finding the limited liability company insolvent. The case is docketed as A45-1922/04-SB/20. Mr. V. Makarov has been appointed insolvency manager. Creditors have until November 17, 2004 to submit their proofs of claim to 630501, Russia, Novosibirsk region, Krasnoobsk, Post User Box 325. CONTACT: THE RESEARCH-AND-PRODUCTION ENTERPRISE 630501, Russia, Novosibirsk region, Krasnoobsk, institute SibNIPTIZh, Room 146 Mr. V. Makarov Insolvency Manager 630501, Russia, Novosibirsk region, Krasnoobsk, Post User Box 325 Phone: 48-53-06 SEVER-NEFTE-PERERABOTKA: Under Bankruptcy Supervision ----------------------------------------------------- The Arbitration Court of Khanty-Mansiyskiy autonomous region has commenced bankruptcy supervision procedure on close joint stock company Sever-Nefte-Pererabotka. The case is docketed as A-75- 280-B/04. Mr. A. Kotelnikov has been appointed temporary insolvency manager. Creditors have to submit their proofs of claim to 614036, Russia, Perm region, Leonova Str. 23, Office 1. A hearing will take place on January 17, 2005, 9:00 a.m. CONTACT: SEVER-NEFTE-PERERABOTKA 628480, Russia, Khanty-Mansiyskiy autonomous region, Kogalym, Molodyezhnaya Str. 26-39 Mr. A. Kotelnikov Temporary Insolvency Manager 614036, Russia, Perm region, Leonova Str. 23, Office 1 SEWING-FANCY-GOODS: Altay Court Appoints Insolvency Manager ----------------------------------------------------------- The Arbitration Court of Altay region has commenced bankruptcy proceedings against Sewing-Fancy-Goods Combine after finding the open joint stock company insolvent. The case is docketed as A03-12217/03-B. Mr. A. Bakharev has been appointed insolvency manager. Creditors have until November 17, 2004 to submit their proofs of claim to 659305, Russia, Altay region, Biysk, Post User Box 46. CONTACT: SEWING-FANCY-GOODS COMBINE 659930, Russia, Altay region, Biysk, Krasilnikova Str. 215a Mr. A. Bakharev Insolvency Manager 659305, Russia, Altay region, Biysk, Post User Box 46 SHADRINSKIY: Creditors Have Until November to File Claims --------------------------------------------------------- The Arbitration Court of Nizhniy Novgorod region has commenced bankruptcy proceedings against Shadrinskiy after finding the agricultural industrial complex insolvent. The case is docketed as A43-1692/04-24-41. Mr. A. Burzilov has been appointed insolvency manager. Creditors have until November 18, 2004 to submit their proofs of claim to 603155, Russia, Nizhniy Novgorod, Trudovaya Str. 8-37. CONTACT: SHADRINSKIY Russia, Nizhniy Novgorod region, Koverninskiy region, Shadrino Mr. A. Burzilov Insolvency Manager 603155, Russia, Nizhniy Novgorod, Trudovaya Str. 8-37 Phone/Fax: 8 (8312) 193309 SIB-METALLURG-MONTAZH: Declared Insolvent ----------------------------------------- The Arbitration Court of Kemerovo region has commenced bankruptcy proceedings against Sib-Metallurg-Montazh after finding the novokuznetskoye dedicated assembly-transport enterprise insolvent. The case is docketed as A27-11081/2004-4. Mr. G. Kuptsov has been appointed insolvency manager. Creditors have until November 17, 2004 to submit their proofs of claim to 650021, Russia, Kemerovo, Petrozavodskaya Str., 1B. CONTACT: SIB-METALLURG-MONTAZH Russia, Kemerovo region, Novokuznetsk, Tsiolkovskogo Str. 9 Mr. G. Kuptsov Insolvency Manager 650021, Russia, Kemerovo, Petrozavodskaya Str. 1B SVIRSKIY ACCUMULATOR: Sets Deadline for Proofs of Claim ------------------------------------------------------- The Arbitration Court of Irkutsk has commenced bankruptcy proceedings against Svirskiy Accumulator Works-5 after finding the limited liability company insolvent. The case is docketed as A19-1478/02-11-49. Creditors have until November 17, 2004 to submit their proofs of claim to 664025, Russia, Irkutsk, Post User Box 157. CONTACT: SVIRSKIY ACCUMULATOR WORKS-5 Russia, Irkutsk region, Svirsk, Promuchastok 1 YUKOS OIL: Partner Withdraws Men, Equipment from Yuganskneftegaz ---------------------------------------------------------------- Oilfield services company Schlumberger Ltd. confirmed on Monday it is recalling resources it deployed at Yukos Oil's main production unit, Associated Press reports. Gleb Ovsyannikov, media relations director at Schlumberger's Russian division, said personnel and equipment stationed at fields belonging to Yuganskneftegaz, are being transferred to other clients. Mr. Ovsyannikov warned of further equipment recalls should the unit's financial situation do not improve. Yuganskneftegaz, which accounts for 60% of Yukos' oil production, is in line to be sold to cover its parent's outstanding US$7 billion tax bill. Yukos is prevented from selling non-core assets, and its accounts are frozen. Yukos chief financial officer Bruce Misamore said last week the company was behind in making current payments to contractors and tax authorities. The firm's entire US$1 billion in monthly revenues were being used to pay down the back taxes, he said. Yuganskneftegaz also recently received a blow after it was cited for drilling violations. The National Resources Ministry has given it six months to comply with regulations to keep its license. CONTACT: YUKOS OIL International Information Department Hugo Erikssen Phone: +7 095 540 6313 E-mail: inter@yukos.ru Press Service: Alexander Shadrin Phone: +7 095 785-08-55 E-mail: pr@yukos.ru Investor Relations Alexander Gladyshev Phone: +7095 788 00 33 E-mail: investors@yukos.ru ========= S P A I N ========= IZAR: Pays EUR3 Million for Delaying Contract --------------------------------------------- Troubled shipbuilder Izar Construcciones Navales a.s. has agreed to pay around EUR3.9 million to an Algerian state transport company for delays in the delivery of two ferries, Expansion says. Empresa Nacional de Transporte de Viajeros y Vehiculos (Enmtv) originally demanded EUR6 million in compensation, but reduced the figure to EUR3 million after considering Izar's current fix, which includes strikes against a proposed split of its military and civilian divisions. Izar delivered the first vessel, which was finished in June, Thursday. Izar would deliver the second ferry next month. Meanwhile, the chairman of bank Caja San Fernando said his bank has not made any proposals to inject capital into Izar's civil shipbuilding division. CONTACT: IZAR CONSTRUCCIONES NAVALES a.s. Velazquez Street 132 28006 Madrid, Spain Phone: +34 91 335 84 00 Fax: +34 91 335 86 52 E-mail: izar@izar.es Web site: http://www.izar.es SOCIEDAD ESTATAL DE PARTICIPACIONES INDUSTRIALES Velasquez, 134 28006 Madrid, Spain Phone: +34-91-396-10-00 Fax: +34-91-562-87-89 Web site: http://www.sepionline.com IZAR: SEPI Scraps Plan; Creates Holding Company ----------------------------------------------- Sociedad Estatal de Participaciones Industriales (SEPI) has cancelled plans to separate debt-ridden Izar's civilian and military units and sell the former, El Pais says. Instead, SEPI now plans to set up a holding company, comprised of a state-run military construction company and a privately owned merchant shipbuilder. Under the revised plan, Izar's San Fernando and Fene yards would be absorbed into the naval business while other yards would stay within the civilian unit. SEPI's decision came after it met a barrage of nationwide protests marred with violence. Meanwhile, SEPI allocated EUR1.3 billion in 2005 to finance Izar's early retirement program. The state holding company plans to inject EUR370 million to its new defense business. Unions gave different reactions on the plan. CONTACT: IZAR CONSTRUCCIONES NAVALES a.s. Velazquez Street 132 28006 Madrid, Spain Phone: +34 91 335 84 00 Fax: +34 91 335 86 52 E-mail: izar@izar.es Web site: http://www.izar.es SOCIEDAD ESTATAL DE PARTICIPACIONES INDUSTRIALES Velasquez, 134 28006 Madrid, Spain Phone: +34-91-396-10-00 Fax: +34-91-562-87-89 Web site: http://www.sepionline.com =========== T U R K E Y =========== ARAB TURKISH: Fitch Puts Individual Rating at 'D' ------------------------------------------------- Fitch Ratings assigned Turkey's Arab Turkish Bank Long-term foreign and local currency ratings of 'B'. Additionally, the agency has assigned other ratings of Short-term foreign and local currency 'B', Individual 'D', National Long-term 'BBB (tur)', and Support '5' to the bank. The Outlook on all Long- term ratings is Stable. The Long-term, Short-term and Individual ratings based on ATB's strong capitalization, they also reflect improved asset quality and enhanced risk management procedures. These factors are balanced by an over reliance on government securities for profit and a concentrated funding base. ATB reported net earnings of TRL8.7 trillion in 2003 and TRL3.1 trillion in H104, benefiting from good interest margins, low credit loss provisions and a reduced tax charge. Additionally, the bank recorded foreign exchange translation gains compared with a loss in 2002. Net interest income is driven by revenue from the securities portfolio, which totaled over 50% of asset as of end-2003. Profit growth was also strong in H104 at 50% compared to the same period in 2003. ATB is a corporate and trade finance lender and has virtually no retail credits. While cash loans have traditionally been a low percentage of the balance sheet (22% at end-2003), ATB has a significant non-cash portfolio because of its trade finance activities throughout the Middle East and North Africa. Net impaired loans (after deduction of reserves) were only 0.2% of equity at end-June 2004. Management anticipates that loans will increase as a proportion of total assets but this will be difficult considering the bank's small size (US$238 million in assets at end-2003). Because of its small branch network, ATB is reliant on borrowings and equity to fund operations. Libyan Arab Foreign Bank, its largest shareholder, provides borrowings, subordinated debt and equity equal to 50% of total assets. This provides stability to a wholesale funding base that can fluctuate due to internal or external financial problems. ATB maintains very strong capital, reporting a total regulatory capital ratio of 54.18% (Tier 1 of 40.22%) at end-June 2004. Full implementation of Basel II, including 100% risk weighting for foreign currency-denominated securities, will result in a decline in ATB's capital ratio of nearly 30 percentage points. This capital position is the key factor that underpins the assigned ratings. Should there be any material adverse change in the capital structure, the ratings will be subject to review. ATB was established in 1976. Its shareholders include LAFB (48%), Kuwait Investment Co. (6%) and three Turkish banks (46%). The bank mainly provides import and export trade finance to local and international companies in Turkey, North Africa and the Middle East. CONTACT: FITCH RATINGS Ed Thompson, New York Phone: +1 212 908 0364 Gulcin Orgun, Istanbul Phone: +90 212 279 1065 Banu Saracci, London Phone: +44 207 417 4373 Media Relations: Campbell McIlroy, London Phone: +44 20 7417 4327 ARAB TURKISH BANK Valikonagi Cad. No:10 Nisantasi 34367 Istanbul, Turkey P.O. Box: 380 Sisli 34360 Istanbul, TURKEY Phone: +90 212 225 05 00 (20 Lines) Fax: +90 212 225 05 26 - 224 99 92 Web site: http://www.arabturkbank.com =========================== U N I T E D K I N G D O M =========================== A.F.C. LIMITED: Creditors Have Until Next Month to File Claims -------------------------------------------------------------- At an extraordinary general meeting of the A.F.C. Limited on October 12, 2004, the special resolution to wind up the company was passed. Carey Olsen of Millennium House, Ollivier Street, Alderney GY9 3TD has been appointed liquidator of the company. All persons having claims against the Company are requested to send a detailed account thereof to the Liquidator, on or before 18th November 2004. AIR PRODUCTS: To Hold Final Meeting of Members Mid-November ----------------------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF Air Products Eastern Limited (In Liquidation) Notice is hereby given that a final meeting of the members of Air Products Eastern Limited will be held at 10:30 a.m. on November 17, 2004 at 17-19 Foley Street, London W1W 6DW. The meeting is called pursuant to Section 94 of the Insolvency Act 1986 for the purpose of receiving an account from the Joint Liquidators explaining the manner in which the winding-up of the company has been conducted and to receive any explanation that they may consider necessary. A member entitled to attend and vote is entitled to appoint a proxy to attend and vote on their behalf. A proxy need not be a member or creditor. These resolutions will be considered at the meeting: (a) That the joint liquidators' receipts and payments account be approved; (b) That the joint liquidators receive their release; (c) That the joint liquidators be authorized to destroy the company's books and records twelve months after dissolution of the company. Proxies to be used at the meeting must be returned to the offices of Menzies Corporate Restructuring, 17-19 Foley Street, London, W1W 6DW, no later than 12:00 noon on the working day immediately before the meeting. Simon James Underwood, Joint Liquidator October 12, 2004 CONTACT: MENZIES CORPORATE RESTRUCTURING 17-19 Foley Street London W1W 6DW Phone: 020 7291 9750 Fax: 020 7291 9777 E-mail: mcr@menzies.co.uk Web site: http://www.menzies.co.uk ALUMAX EXTRUSIONS: Final Meeting of Members Set December -------------------------------------------------------- The final meeting of the members of Alumax Extrusions Limited will be on December 15, 2004 commencing at 11:00 a.m. It will be held at the offices of Grant Thornton, 1 Westminster Way, Oxford OX2 0PZ. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with Grant Thornton, 1 Westminster Way, Oxford OX2 0PZ not later than 12:00 noon, December 14, 2004. CONTACT: GRANT THORNTON 1 Westminster Way, Oxford OX2 0PZ Phone: 01865 799899 Fax: 01865 724420 Web site: http://www.grant-thornton.co.uk AMBER PROPERTIES: Special Winding up Resolution Passed ------------------------------------------------------ NOTICE IS HEREBY GIVEN that at an extraordinary general meeting of the Amber Properties Limited held on 4th October, 2004 the following resolution was passed as a Special Resolution: That the company be wound up voluntarily and that Neil Jesse Crocker of Second Floor, National Westminster House, Le Truchot, St Peter Port, Guernsey be and is hereby appointed liquidator of the company for the purpose of such winding up. All persons having claims against or indebted to the above company are requested to send details thereof to me at the address below within seven days of this notice. N. J. Crocker of Second Floor, National Westminster House, Le Truchot, St Peter Port, Guernsey has been appointed liquidator for the company. AMKO BEARINGS: Calls General Meeting of Members ----------------------------------------------- The general meeting of the members of Amko Bearings Limited will be on November 23, 2004 commencing at 10:00 a.m. It will be held at Deloitte & Touche LLP, 1 City Square, Leeds LS1 2AL. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members who want to be represented at the meeting may appoint proxies. CONTACT: DELOITTE & TOUCHE LLP 1 City Square, Leeds LS1 2AL Phone: +44 (0) 113 243 9021 Fax: +44 (0) 113 244 5580 Web site: http://www.deloitte.com ARMSTRONG EUROPE: Names Numerica Liquidator ------------------------------------------- At an extraordinary general meeting of the Armstrong Europe Services on October 7, 2004 held at 81 Station Road, Marlow, Buckinghamshire S17 1SX, the special and ordinary resolutions to wind up the company were passed. Frank Wessely, licensed Insolvency Practitioner and Peter James Hughes-Holland, licensed Insolvency Practitioner, both of Numerica have been appointed joint liquidators for the purpose of the voluntary winding-up. CONTACT: NUMERICA 81 Station Road, Marlow, Buckinghamshire SL7 1SX Phone: 01628 478100 Fax: 01628 472629 Web site: http://www.numerica.biz ARTESIA NATURAL: Brings in Receivers from Tenon Recovery -------------------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF Artesia Natural & Precious Ltd. (In Receivership) I, Alexander Iain Fraser of Tenon Recovery, 10 Ardross Street, Inverness, IV3 5NS, give notice that on October 6, 2004, Thomas Campbell MacLennan and I were appointed as Joint Receivers of the whole property and assets of Artesia Natural & Precious Ltd. in terms of section 51 of the Insolvency Act 1986. In terms of section 59 of the said Act, preferential creditors are required to lodge their claims to me within six months of the date of this notice. A. I. Fraser, Joint Receiver CONTACT: TENON RECOVERY 10 Ardross Street Inverness IV3 5NS Phone: 01463 235321 Fax: 01463 231040 E-mail: inverness@tenongroup.com Web site: http://www.tenongroup.com A.S.A. SECURITY: Owners Agree to Liquidate Company -------------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF A.S.A. (Security) Limited MSS Security Limited and Scotguard Alarms Limited Notice is hereby given that at the Extraordinary General Meetings of A.S.A. (Security) Limited, MSS Security Limited and Scotguard Alarms Limited held on October 12, 2004, these resolutions were passed: (a) That each Company be wound up voluntarily; (b) That Jonathan Sisson and Richard Setchim of PricewaterhouseCoopers LLP, 12 Plumtree Court, London, EC4A 4HT, be and are hereby appointed Joint Liquidators of each Company for the purposes of such winding up, and any act required or authorized under any enactment to be done by the Joint Liquidators is to be done by all or any one or more of the persons for the time being holding office.' Russel Charles Shear, Chairman of the meeting CONTACT: PRICEWATERHOUSECOOPERS LLP Plumtree Court London EC4A 4HT Phone: [44] (20) 7583 5000 Fax: [44] (20) 7822 4652 Web site: http://www.pwcglobal.com BHD FLINT: Sets Creditors' Meeting Next Month --------------------------------------------- Name of companies: BHD Flint Limited BHD Group Limited BHD Showers Limited HDGB Realizations Limited The unsecured creditors of these companies will meet on November 10, 2004 commencing at 12:00 noon. It will be held at The Ibis Hotel, Ladywell Walk, Arcadian Centre, Birmingham B5 4ST. Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims to KPMG LLP, 2 Cornwall Street, Birmingham B3 2DL not later than 12:00 noon, November 9, 2004. CONTACT: KPMG LLP 2 Cornwall Street Birmingham B3 2RT Phone: (0121) 232 3000 Fax: (0121) 232 3500 Web site: http://www.kpmg.co.uk CERAMIC CITY: Names Administrator from Walletts Insolvency ---------------------------------------------------------- Michael F. McCarthy (IP No 8942) has been appointed administrator for Ceramic City Management Limited. The appointment was made October 11, 2004. Its registered office is located at 2 Adventure Place, Hanley, Stoke on Trent ST1 3AF. CONTACT: WALLETTS INSOLVENCY SERVICES Adventure Place, Hanley, Stoke on Trent, Staffordshire ST1 3AF Phone: (01782) 212326 Fax: (01782) 212326 DERWENT SHIRES: Members General Meeting Set Next Month ------------------------------------------------------ The general meeting of the members of Derwent Shires Estates Limited will be on November 29, 2004 commencing at 10:00 a.m. It will be held at Mabe Allen, 50 Osmaston Road, Derby DE1 2HU. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members who want to be represented at the meeting may appoint proxies. CONTACT: MABE ALLEN 50 Osmaston Road, Derby DE1 2HU Phone: 01332 345265 EIDOS PLC: Tomb Raider to Appear on BREW-Enabled Mobile Phones -------------------------------------------------------------- Eidos, one of the world's leading publishers and developers of entertainment software, announces it has signed an agreement with QUALCOMM, pioneer and world leader of Code Division Multiple Access (CDMA) digital wireless technology, to publish games for BREW-enabled mobile phones. Developed by QUALCOMM, the BREW(R) solution is a unique system that supports the very latest in applications and services for wireless handsets, from games to ring tones, to position location and productivity software as well as user interface (UI) support and customization. Eidos plans to launch some of its key brands for BREW-enabled mobile phones, including Tomb Raider and Thief. Simon Protheroe, Eidos' director of new media and online technologies says: "BREW has helped increase user demand in the wireless gaming industry, and Eidos wants to tap into this rapidly growing marketplace. We look forward to working with QUALCOMM and using the technical and business capabilities of the BREW solution to distribute our major franchises to mobile users around the world." Mike Yuen, director of BREW developer relations for QUALCOMM Internet Services says: "QUALCOMM is very pleased to have a leading company like Eidos join the growing ranks of high caliber BREW publishers that are providing leading-edge games to mobile users. As one of the industry's premier entertainment software publishers, Eidos offers an impressive portfolio of well-recognized titles for operators that provide BREW-based services." About BREW QUALCOMM's BREW solution provides products and services that connect the mobile marketplace value chain, which includes publishers, developers, content providers, device manufacturers, operators and consumers. Publishers and developers worldwide are generating revenue from BREW-based applications and content, and 27 manufacturers have offered more than 150 BREW-enabled device models to consumers. BREW is successfully enabling the commercial wireless data services of many successful operators, including Verizon Wireless, Alaska Communication Systems, ALLTEL, Cellular One, Cellular South, Cricket Communications, MetroPCS, Midwest Wireless, NTELOS, Pioneer, Rural Cellular Corporation and U.S. Cellular in the United States, Bermuda Digital Communications, China Unicom, KDDI in Japan, KTF in South Korea, Hutch in Thailand, Iusacell in Mexico, VIBO in Taiwan, Tata in India, Telstra in Australia, VIVO in Brazil, BellSouth Argentina, BellSouth Chile, BellSouth Colombia, BellSouth Ecuador, BellSouth Guatemala, BellSouth Nicaragua, BellSouth Panama, BellSouth Peru, Movicom in Argentina, Movicom in Uruguay, Telcel and Movilnet in Venezuela, Verizon Dominicana, Verizon Wireless Puerto Rico, Pelephone in Israel and Zapp in Romania. About Eidos Eidos plc is one of the world's leading publishers and developers of entertainment software with a diverse mix of titles for the PC, PlayStation(R)2 computer entertainment system, Nintendo GameCube(TM) and the Xbox(TM) video game system from Microsoft. For more information on Eidos and its products visit http://www.eidos.com. QUALCOMM and BREW are registered trademarks of QUALCOMM Incorporated. All other trademarks are the property of their respective owners. * * * Eidos, the creator of the successful Tom Raider series, put itself up for sale after two profit warnings earlier this summer. The company remains financially sound but is considered too small for the market. In the year to 30 June 2004, the Group achieved a turnover of GBP133.9 million (2003: GBP151.5 million) and recorded an operating loss before goodwill and exceptional items of GBP2.0 million (2003: GBP13.9 million profit). CONTACT: EIDOS PLC Steve Starvis Phone: +44-(0)-20-8636-3000 Fax: +44-(0)-020-8636-3001 EMI GROUP: Continues Outsourcing Strategy with Sale of CD Plant --------------------------------------------------------------- EMI Music and Warner Music have reached agreement with Summit Technology Australia Pty Ltd. to sell their jointly owned CD manufacturing business in Sydney, Australia, to Summit. This initiative represents a further step in EMI's drive to reduce manufacturing costs and also make them fully variable, insulating the business from the effects of changing volumes. EMI announced in March 2004 that is was to cease self- manufacturing CDs and DVDs in Europe and the United States and has subsequently transferred its associated assets in the Netherlands to MediaMotion and closed down its manufacturing plant in Illinois. Under the new agreement, EMI and Warner will transfer their manufacturing facility Digital Audio Technologies Australia (DATA) and its associated assets and employees to Summit with effect from 31 December 2004. Simultaneously, EMI Music Australia has entered into a long-term supply agreement with Summit for its local supply of CDs and DVDs. Summit will acquire DATAs assets and stock at book value with the proceeds from the sale being nominal. EMI retains two joint venture manufacturing facilities, one in Japan (part of the Toshiba-EMI joint venture company) and a small manufacturing facility in Canada. CONTACT: EMI GROUP PLC Amanda Conroy, Corporate Communications Phone: +44 20 7795 7529 Claudia Palmer, Investor Relations Phone: +44 20 7795 7635 Susie Bell Phone: +44 20 7795 7971 BRUNSWICK GROUP LLP Patrick Handley Phone: +44 20 7404 5959 GARDNER CRYOGENICS: Sets Members Final Meeting ---------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF Gardner Cryogenics Limited (In Liquidation) Notice is hereby given that a final meeting of the members of Gardner Cryogenics Limited will be held at 10:50 a.m. on November 17, 2004 at 17-19 Foley Street, London W1W 6DW. The meeting is called pursuant to Section 94 of the Insolvency Act 1986 for the purpose of receiving an account from the Joint Liquidators explaining the manner in which the winding-up of the company has been conducted and to receive any explanation that they may consider necessary. A member entitled to attend and vote is entitled to appoint a proxy to attend and vote on their behalf. A proxy need not be a member or creditor. These resolutions will be considered at the meeting: (a) That the joint liquidators' receipts and payments account be approved; (b) That the joint liquidators receive their release; (c) That the joint liquidators be authorized to destroy the company's books and records twelve months after dissolution of the company. Proxies to be used at the meeting must be returned to the offices of Menzies Corporate Restructuring, 17-19 Foley Street, London, W1W 6DW, no later than 12:00 noon on the working day immediately before the meeting. Simon James Underwood, Joint Liquidator October 12, 2004 CONTACT: MENZIES CORPORATE RESTRUCTURING 17-19 Foley Street London W1W 6DW Phone: 020 7291 9750 Fax: 020 7291 9777 E-mail: mcr@menzies.co.uk Web site: http://www.menzies.co.uk GOLF AND LEISURE: Names Craig Le Cheminant Liquidator ----------------------------------------------------- NOTICE IS HEREBY GIVEN that at an extraordinary general meeting of the members of Golf And Leisure Holdings Limited held at EFG House, St Julian's Avenue, St Peter Port, Guernsey on 20th January, 2004 the following Resolution was passed as a Special Resolution: THAT the Company be wound up voluntarily and THAT Mr. Craig Le Cheminant of EFG House, St Julian's Avenue, St Peter Port, Guernsey be and is hereby appointed Liquidator for the purpose of such winding up. All persons having claims against or indebted to the above named Company are requested to send details thereof to me at P.O. Box 603, EFG House, St Julian's Avenue, St Peter Port, Guernsey within three weeks from the date of this notice. H.E. MOUL: Members General Meeting Set Next Month ------------------------------------------------- The general meeting of the members of H.E. Moul & Druce Limited will be on November 10, 2004 commencing at 10:00 a.m. It will be held at the offices of Trafford Taunton & Co., 90 Babbacombe Road, Bromley BR1 3LS. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members who want to be represented at the meeting may appoint proxies. CONTACT: TRAFFORD TAUNTON & CO. 90 Babbacombe Road, Bromley BR1 3LS Phone: 02084645981 HOPES HAULAGE: Creditors to Meet First Week of November ------------------------------------------------------- IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF Hopes Haulage Ltd. Notice Is hereby given, pursuant to Section 98 of the Insolvency Act, 1986 that a meeting of creditors of Hopes Haulage Ltd. will be held within the offices of Morris & Young, 6 Atholl Crescent, Perth on November 3, 2004 at 11:30 a.m. for the purposes specified in Sections 99-101 of the said Act. A list of the names and addresses of the company's creditors will be available for inspection, free of charge, within the offices of Morris & Young, 6 Atholl Crescent, Perth two business days prior to the meeting. By Order of the Board. Alan Hope, Director October 15, 2004 CONTACT: MORRIS & YOUNG 6 Atholl Crescent Perth PH1 5JN Phone: 01738 626257 Fax: 01738 630845 INTERDEAN (AIRFREIGHT): Members Final Meeting Set ------------------------------------------------- The final meeting of the members of Interdean (Airfreight) Limited will be on December 15, 2004 commencing at 10:30 a.m. It will be held at the offices of Grant Thornton, 1 Westminster Way, Oxford OX2 0PZ. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with Grant Thornton, 1 Westminster Way, Oxford OX2 0PZ not later than 12:00 noon, December 14, 2004. CONTACT: GRANT THORNTON 1 Westminster Way, Oxford OX2 0PZ Phone: 01865 799899 Fax: 01865 724420 Web site: http://www.grant-thornton.co.uk LEASE 123: Liquidator's Final Report Out Next Month --------------------------------------------------- The final meeting of the members of Lease 123 Limited will be on November 25, 2004 commencing at 10:15 a.m. It will be held at the offices of PricewaterhouseCoopers LLP, Plumtree Court, London EC4A 4HT. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members who want to be represented at the meeting may appoint proxies. CONTACT: PRICEWATERHOUSECOOPERS LLP Plumtree Court London EC4A 4HT Phone: 020 7212 8123 Fax: 020 7084 5566 Web site: http://www.pwc.com LVR PROPERTIES: Calls in Liquidator from Phillips & Co. ------------------------------------------------------- At an extraordinary general meeting of the members of the LVR Properties Ltd. on October 18, 2004 held at 21-23 Station Road, Gerrards Cross, Buckinghamshire SL9 8ES, the special resolution to wind up the company was passed. Helen Timothe Phillips of Phillips & Co, 21-23 Station Road, Gerrards Cross, Buckinghamshire SL9 8ES has been appointed liquidator of the company for the purpose of such winding-up. CONTACT: PHILLIPS & CO. 21-23 Station Road, Gerrards Cross, Buckinghamshire SL9 8ES MARCONI CORPORATION: Top Russian Firm Subscribes to SDH Services ---------------------------------------------------------------- Marconi Corporation plc announced that OAO Bashinformsvyaz, the largest communications services provider in the Russian Republic of Bashkortostan (Bashkirian Republic), has used Marconi's next- generation optical technology to launch new data-over- Synchronous Digital Hierarchy (SDH) services to its customers. The new service has been enabled by Marconi's next-generation OMS1664 multi-service metro platform, supported by its MS1/4 SDH equipment and ServiceOn network management system. OAO Bashinformsvyaz has used its new Marconi equipment to create a multi-service network while at the same time increasing its transport capacity to Synchronous Transfer Mode 16 (STM-16) - about 2.5 Gbps. Its new Marconi 16-port 10/100M Ethernet card with Generic Frame Procedure (GFP) and Link capacity Adjustment Scheme (LCAS) enables the operator to provider data-over-SDH services to its customers. Integration, monitoring and control of the network will be handled by Marconi's management system, ServiceOn Access. OAO Bashinformsvyaz intends to develop further the multi-service functionality of its new network in the future. "This win builds on the growing success of Marconi's flagship OMS1664 multi-service provisioning platform as well as representing another strategic business win for our central European business in Russia," said Dr. Stefan Kindt, managing director and CEO of Marconi Communications GmbH. "The OMS1664 will allow OAO Bashinformsvyaz to launch new services for its customers while improving the overall economic performance of its optical network." Marconi's OMS1664 multi-service metro platform will enable OAO Bashinformsvyaz to meet the evolving transport needs of its network by allowing the operator to respond to growing demand for emerging optical broadband services. The OMS1664 enables significant network simplification and delivery of multiple services rapidly and efficiently. Designed specifically for an environment of growing demand for new data services, the new, compact, multi-service transport and switching platform can deliver traditional and new services cost-effectively and incrementally, in line with emerging demand. The OMS1664 combines Marconi's next-generation SDH technology with integrated data and Wavelength Division Multiplexing (WDM) technology, providing data aggregation and switching as well as high network capacity. An innovative architecture ensures future-proofing, allowing the OMS1664 to evolve in-service to carry increasing amounts of data traffic as and when demand emerges. Marconi's ServiceOn network management system integrates element, network and service management into one scalable, future proof network management system that will provide OAO Bashinformsvyaz with the ability to mange all of its Marconi access network equipment and wireless technologies as well as selected third party SDH equipment. ServiceOn Access is in operation in over 170 operators' networks worldwide. The Marconi optical equipment will be delivered, installed and commissioned by Czech company TTC MARCONI. Notes to Editors About JSC Bashinformsvyaz OAO Bashinformsvyaz has a 90% share in the telecommunications market of Bashkortostan, an economically stable Russian republic in the southern Urals. The company covers the entire spectrum of telecommunications providing for local, long-distance and international calls, radio and TV broadcasting, paging, mobile phone services, Internet access, Voice over IP and Intelligent Network services. In early 2003 OAO Bashinformsvyaz delivered services to 850,000 subscribers. The degree of digitalization is 60% in urban and 20% in rural areas. 80% of urban and 27.4% of rural household are covered by OAO Bashinformsvyaz. Multi- service and broadband networks are rolled-out with MPLS- technology and xDSL-technology in the Access area at the moment. About TTC MARCONI Ltd. TTC MARCONI Ltd. is a Joint Venture of TTC TELEKOMUNIKACE, the biggest telecommunication manufacturer in the Czech Republic, and Marconi Corporation plc. In the Czech Republic and in Slovakia, the company is well known through its very strong technical and realization background. Moreover the company is active in the Russian Federation and Ukraine. Further business activities are held in other republics of the former Soviet Union and in Bulgaria. Ownership of the company is 49% Marconi Corporation plc and 51% TTC TELEKOMUNIKACE. About Marconi Corporation plc Marconi Corporation plc (London: MONI and NASDAQ: MRCIY) is a global telecommunications equipment, services and solutions company. The company's core business is the provision of innovative and reliable optical networks, broadband routing and switching and broadband access technologies and services. The company's customer base includes many of the world's largest telecommunications operators. CONTACT: MARCONI PLC Margarete Senn Phone: +49 7191 13 3811 E-mail: margarete.senn@marconi.com Investor enquiries Heather Green Phone: + 44 207 306 1735 E-mail: heather.green@marconi.com Industry Analyst enquiries Skip MacAskill Phone: +44 2476 56 3705 E-mail: skip.macaskill@marconi.com MARDEO LIMITED: Members Appoint Liquidator ------------------------------------------ IN THE MATTER OF THE COMPANIES ACT 1986 IN THE MATTER OF THE INSOLVENCY ACT 1986 and IN THE MATTER OF Mardeo Limited (In Liquidation) At an Extraordinary General Meeting of the Members of Mardeo Limited, duly convened and held on October 11, 2004, 10:00 a.m. at Unit 14, Princes Square, 48 Buchanan Street, Glasgow, G1 3JX, these resolutions were duly passed: (a) That it has been proved to the satisfaction of the meeting that the company cannot by reason of its liabilities continue its business and that it is advisable to wind up same and, accordingly, that the company be wound up voluntarily. (b) That Ian William Wright of Haines Watts, James Miller House, 98 West George Street, Glasgow, G2 1PJ be appointed liquidator for the purposes of such winding up. G. Marini, Chairman of the Meeting October 11, 2004 CONTACT: HAINES WATTS (GLASGOW INSOLVENCY) James Miller House 98 West George Street Glasgow G2 1PJ Phone: 0141 342 1600 Fax: 0141 342 1616 Web site: http://www.hwca.com MILLAC LIMITED: Members Opt to Wind up Business ----------------------------------------------- Name of companies: Millac Limited Pritchitt Foods Limited Pritchitts Limited At an extraordinary general meeting of these companies on October 8, 2004 held at Killeshandra, Co. Cavan, Ireland, the special, extraordinary and ordinary resolutions to wind up the companies were passed. Barry Forrest of UHY O'Connor, Leddy & Holmes has been appointed liquidator of the company for the purpose of the voluntary winding-up. NIMMO PACKAGING: Hires Rothman Pantall & Co. as Administrator ------------------------------------------------------------- Robert Derek Smailes and Stephen Blandford Ryman (IP Nos 8975, 4731) have been appointed joint administrators for Nimmo Packaging Systems Limited. The appointment was made October 14, 2004. The company manufactures metal. CONTACT: ROTHMAN PANTALL & CO. Clareville House, 26-27 Oxendon Street, London SW1Y 4EP Phone: +44 (0) 20 7930 7272 Fax: +44 (0) 20 7930 9849 E-mail: london@rothman-pantall.co.uk Web site: http://www.rothman-pantall.co.uk ORYX FUND: Members Agree to Appoint Liquidators ----------------------------------------------- NOTICE IS HEREBY GIVEN that at an extraordinary general meeting of the Oryx Fund Limited held on 14th October, 2004 the following special resolution was confirmed: THAT the Company be wound-up voluntarily and that Mr. John Dunford, Chartered Accountant and Mr. Brendan McMahon, Chartered Accountant, P.O. Box 321, National Westminster House, Le Truchot, St Peter Port, Guernsey, GY1 4ND be and are hereby appointed joint liquidators of the company for the purpose of such winding-up. PCL REALISATION: Unsecured Creditors to Meet November ----------------------------------------------------- The unsecured creditors of PCL Realization Limited will meet on November 10, 2004 commencing at 10:00 a.m. It will be held at The Ibis Hotel, Ladywell Walk, Arcadian Centre, Birmingham B5 4ST. Creditors who want to be represented at the meeting may appoint proxies. Proxy forms must be submitted together with written debt claims to KPMG LLP, 2 Cornwall Street, Birmingham B3 2DL not later than 12:00 noon, November 9, 2004. CONTACT: KPMG LLP 2 Cornwall Street Birmingham B3 2RT Phone: (0121) 232 3000 Fax: (0121) 232 3500 Web site: http://www.kpmg.co.uk REDEVELOPED FISH: In Administrative Receivership ------------------------------------------------ HSBC Bank Plc called in C. W. A. Escott and M. Dunham (Office Holder Nos 8913, 8376) joint administrative receivers for Redeveloped Fish Products Limited (Reg No 4068256, Trade Classification: 04). The application was filed October 18, 2004. CONTACT: ROBSON RHODES L.L.P. St. George House 40 Great George Street Leeds LS1 3 DQ Phone: 0113 225 4000 Fax: 0113 225 4002 Web site: http://www.robsonrhodes.co.uk SEIKO EUROPE: Hires Joint Liquidators from Deloitte & Touche ------------------------------------------------------------ At an extraordinary general meeting of the Seiko Europe Limited On September 15, 2004 held at Seiko Watch Corporation, 19/F 2-1 Shibaura 1-Chome, Minato-ku, Tokyo 105-8467, Japan, the special and ordinary resolutions to wind up the company were passed. Dominic L. Z. Wong and Andrew P. Peters of Deloitte & Touche LLP, Blenheim House, Newport Road, Cardiff CF24 0TS have been appointed joint liquidators of the company. CONTACT: DELOITTE & TOUCHE LLP Blenheim House Newport Road, Cardiff CF24 0TS Phone: +44 (0) 29 2048 1111 Fax: +44 (0) 29 2048 2615 Web site: http://www.deloitte.com SKYEPHARMA PLC: Gets Payment for DepoDur(TM) Deal ------------------------------------------------- SkyePharma PLC (LSE: SKP; Nasdaq: SKYE) received a US$5 million milestone payment from Endo Pharmaceuticals Inc. in respect of DepoDur(TM). DepoDur(TM), which was approved by the U.S. Food & Drug Administration on 18 May, is SkyePharma's novel single dose sustained-release injectable formulation of morphine for the relief of pain after major surgery. Endo is SkyePharma's licensee for DepoDur(TM) in North America. receive Under the terms of an agreement signed in December 2002, SkyePharma is entitled to certain milestone payments from Endo. These include a payment of US$5 million once DepoDur(TM) has received FDA approval and SkyePharma has supplied launch quantities of the product to Endo. These conditions have now been satisfied. Michael Ashton, Chief Executive of SkyePharma, said: "We are pleased to report the receipt of this payment. Our partner Endo commenced U.S. promotion of DepoDur(TM) in the third quarter, with an encouraging initial response, and we now look forward to the formal U.S. launch of our most important product in the fourth quarter. We are confident that DepoDur(TM) has great potential to improve the treatment of pain following major surgery." About SkyePharma PLC SkyePharma PLC develops pharmaceutical products benefiting from world leading drug delivery technologies that provide easier-to- use and more effective drug formulations. There are now ten approved products incorporating SkyePharma's technologies in the areas of oral, injectable, inhaled and topical delivery, supported by advanced solubilization capabilities. For more information, visit http://www.skyepharma.com. CONTACT: SKYEPHARMA PLC Phone: +44 207 491 1777 Michael Ashton, Chief Executive Officer Peter Laing, Director of Corporate Communications Sandra Haughton, U.S. Investor Relations Phone: +1 212 753 5780 BUCHANAN COMMUNICATIONS Phone: +44 207 466 5000 Tim Anderson/Mark Court SONCEBOZ UK: Brings in Liquidator from Finn Associates ------------------------------------------------------ At an extraordinary general meeting of the members of the Sonceboz UK Limited on October 4, 2004 held at 11 Walkwood Rise, Beaconsfield, Buckinghamshire HP9 1TU, the special and ordinary resolutions to wind up the company were passed. Paul Howard Finn of Finn Associates, Four The Chandlery, 40 Gowers Walk, London E1 8BH has been appointed liquidator for the purpose of such winding-up. CONTACT: FINN ASSOCIATES Four The Chandlery, 40 Gowers Walk, London E1 8BH SONERA UK: Hires KPMG as Liquidator ----------------------------------- At an extraordinary general meeting of the members of the Sonera UK Limited on September 15, 2004 held at 95 Cromwell Road, London SW7 4DL, the special and ordinary resolutions to wind up the company were passed. Jeremy Simon Spratt and Finbarr O'Connell of KPMG LLP, 8 Salisbury Square, London EC4Y 8BB have been appointed joint liquidators for the purpose of such winding-up. CONTACT: KPMG LLP PO Box 695, 8 Salisbury Square, London EC4Y 8BB Phone: (020) 7311 1000 Fax: (020) 7311 3311 Web site: http://www.kpmg.co.uk TETHYS LIMITED: Proofs of Claim Deadline Expires Weekend -------------------------------------------------------- NOTICE IS HEREBY GIVEN that an extraordinary general meeting of the members of the Tethys Limited was held at Frances House, Sir William Place, St Peter Port, Guernsey, Channel Islands, GY1 4HQ on 11th October, 2004. The purpose of the meeting was to consider and if thought fit, to pass the following Resolution which was proposed as a special resolution: Special Resolution That the Company be wound up voluntarily and THAT Mr. Julian Dai Lane of Frances House, Sir William Place, St Peter Port, Guernsey, be and is hereby appointed Liquidator for the purposes of such winding up. All Persons having claims against or indebted to the above Company are requested to send details thereof to the address below before 29th October 2004. THE BRYN: SME Invoice Appoints Harrisons Receiver ------------------------------------------------- SME Invoice Finance Limited called in J. C. Sallabank and P. R. Boyle (Office Holder Nos 008099, 008897) joint administrative receivers for The Bryn Wharf Food Company Limited (Reg No 02311554, Trade Classification: 1589). The application was filed October 15, 2004. The company manufactures other food products. CONTACT: HARRISONS 35 Water Edge Business Park, Modwen Road, Manchester M5 3EZ Phone: 0161 876 4567 Fax: 0161 876 4554 E-mail: info@harrisons.uk.com Web site: http://www.harrisons.uk.com THE LEARNING: Calls in Liquidator from Grant Thornton ----------------------------------------------------- At a meeting of The Learning Library Limited on October 4, 2004, the special resolution to wind up the company was passed. Andrew Conquest of Grant Thornton UK LLP, Grant Thornton House, Melton Street, Euston Square, London NW1 2EP has been appointed liquidator of the company for the purpose of the voluntary winding-up. CONTACT: GRANT THORNTON Grant Thornton House, Melton Street, Euston Square, London NW1 2EP Phone: 020 7383 5100 Fax: 020 7383 4715 Web site: http://www.grant-thornton.co.uk TOMLANDER LIMITED: Insolvency Service Bans Two Directors -------------------------------------------------------- Two directors of a mechanical engineering and pipe work contractor business that failed with total debts estimated at around GBP1.3 million have each given Undertakings not to hold directorships or take any part in company management for four years. The Undertakings by brothers Brian Colin Pearson, 44, of Smithy Cottage, Wilmslow, and Charles Pearson, 59, of Eccups Lane, Morley Green, Wilmslow, were given in respect of their conduct as directors of Tomlander Limited, which carried out business from premises at Paston Road, Sharston Industrial Estate, Manchester. The acceptance of the Undertakings on September 21, 2004 prevents both Brian and Colin Pearson from being directors of a company or, in any way, whether directly or indirectly, being concerned in or taking part in the promotion, formation or management of a company for the above periods. Tomlander Limited was placed into Administration on September 13, 2001 with an estimated deficiency to its creditors of GBP1,357,960. Matters of unfit conduct, not disputed by either Brian or Charles Pearson, solely for the purposes of the undertakings, were that they: (a) Caused or allowed Tomlander to trade to the detriment of the Crown Departments; and (b) Caused or allowed Tomlander to make a payment of GBP45,000 to J&J Stubbs Limited Self Administered Pension Scheme, with the knowledge that other creditors, in particular the Crown, remained unpaid. The Insolvency Service, on behalf of the Secretary of State for Trade & Industry, has responsibility (under Section (6) of the Company Directors Disqualification Act 1986) for the investigation of the conduct of directors of failed companies and for the disqualification of those who are considered to be unfit to be involved in the management of companies in the future. CONTACT: THE INSOLVENCY SERVICE 21 Bloomsbury Street London, WC1B 3QW Web site: http://www.insolvency.gov.uk Disqualification Unit Phone: 020 7291 6807 020 7291 6832 (Vetting) E-mail: Disqualification.Unit@insolvency.gsi.gov.uk Criminal Allegations Team Phone: 020 7291 6841 E-mail: criminal.allegations@insolvency.gsi.gov.uk TWP HOLDCO: Liquidator to Present Final Report Mid-December ----------------------------------------------------------- The final meeting of the members of TWP Holdco (4) Limited will be on December 15, 2004 commencing at 10:45 a.m. It will be held at the offices of Grant Thornton, 1 Westminster Way, Oxford OX2 0PZ. The purpose of the meeting is to receive the account showing how the winding-up has been conducted and the property of the company disposed of, and to hear any explanation that may be given by the liquidator. Members who want to be represented at the meeting may appoint proxies. Proxy forms must be lodged with Grant Thornton, 1 Westminster Way, Oxford OX2 0PZ not later than 12:00 noon, December 14, 2004. CONTACT: GRANT THORNTON 1 Westminster Way, Oxford OX2 0PZ Phone: 01865 799899 Fax: 01865 724420 Web site: http://www.grant-thornton.co.uk ********* S U B S C R I P T I O N I N F O R M A T I O N Troubled Company Reporter -- Europe is a daily newsletter co- published by Bankruptcy Creditors' Service, Inc., Fairless Hills, Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland USA. Larri-Nil Veloso, Ma. Cristina Canson, Liv Arcipe, and Julybien Atadero, Editors. Copyright 2004. All rights reserved. ISSN 1529-2754. This material is copyrighted and any commercial use, resale or publication in any form (including e-mail forwarding, electronic re-mailing and photocopying) is strictly prohibited without prior written permission of the publishers. Information contained herein is obtained from sources believed to be reliable, but is not guaranteed. 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